The Vista Germantown apartment complex has been sold for $53.25 million, according to Davidson County property records.

With 242 units, the sale represents a purchase price of more than $220,041 per unit, a new record for the Nashville area, topping the $210,000 per-unit price set by the West End Village Apartments in January.

The record may not stand for long, however. According to real estate experts, Southern Land Co.'s 331-unit Elliston 23 complex is expected to set an even higher benchmark when it sells. Elliston 23 formally hit the market in January.

According to property records, Vista Germantown developer Associated Estates Realty of Ohio, via AERC Bristol Germantown JV LLC, sold the project to Vista Germantown Apartments LP, a subsidiary of Toronto-based Avison Young. The $32 million project opened in early 2012.

Matthew Friedman, of California-based Hancock Real Estate Strategies, was the lead adviser on the sale in conjunction with Nashville-based The Kirkland Co.